Connect with us

Technology

Cyngn Completes First Paid DriveMod Forklift Deployment at Customer Facility

Published

on

MENLO PARK, Calif., Oct. 21 ,2024 /PRNewswire/ — Today, Cyngn announced that its autonomous DriveMod Forklift has completed its first paid autonomous deployment at a customer facility, marking an important milestone in the commercialization of the next vehicle in Cyngn’s Enterprise Autonomy Suite (EAS) portfolio. Built with an array of safety systems, including 360° high-definition perception and Cyngn’s Virtual Bumper technology, the DriveMod Forklift safely navigates dynamic environments while attaining high operational precision.

Details on this customer’s forklift use case are being kept confidential at this time, but this achievement demonstrates the DriveMod Forklift’s capability to execute the work required at a large customer facility. This milestone sets up the critical next steps of commercialization for the DriveMod Forklift, which include building and selling additional units in preparation for integration into this customer’s operations, which is targeted for the first half of 2025.

“The DriveMod Forklift represents the holy grail of automation. This is one of the few machines that can autonomously accomplish entire material moving flows, from A-to-Z, without requiring human intervention,” said Ben Landen, VP of Business Development at Cyngn. “This means that the market for autonomous forklifts is among the largest in comparison to other material handling vehicles, and we’ve carved out a differentiated niche by targeting heavy loads on non-standard pallets. This achievement allows us to validate and showcase the forklift’s capabilities in real-world, high-throughput settings that capture significant value for our customer.”

The DriveMod Forklift leverages advanced AI and proprietary computer vision to analyze pallet stack and pocket dimensions in real time, enabling the precise handling of loads over 10,000 lbs (4,545 kg) and elevating productivity. Customers can control the DriveMod Forklift via Cyngn Insight, the Company’s sleek fleet management system that enables real-time vehicle monitoring, operational analytics, and centralized mission planning.

The DriveMod Forklift has a history of successful technological and commercial advancement. In the fall of 2022, Cyngn announced that it had signed a contract with a building materials manufacturer to begin development. By the summer of 2023, Cyngn revealed the first footage of the autonomous forklift and soon followed up with an announcement that the building manufacturer, Arauco, had pre-ordered 100 DriveMod Forklifts.

The DriveMod Forklift is now available for additional deployments on a select basis. Visit https://www.cyngn.com/vehicles/autonomous-forklift to learn more or explore the Cyngn Press Kit for additional images.

About Cyngn. Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Find Cyngn on:

Website: cyngn.comTwitter: twitter.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Don Alvarez, CFO
investors@cyngn.com

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

FORWARD-LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the SEC, including, without limitation the risk factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-completes-first-paid-drivemod-forklift-deployment-at-customer-facility-302281449.html

SOURCE Cyngn

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Omnex Acquires Futurepast

Published

on

By

ANN ARBOR, Mich., Oct. 21, 2024 /PRNewswire/ — On October 17, 2024, Omnex Engineering and Management (Omnex), an Ann Arbor, Michigan-based firm, announced the acquisition of Futurepast, Inc., an Arlington, Virginia-based company that provides greenhouse gas consulting, training, and auditing services.

Omnex president Chad Kymal stated that Futurepast will be integrated into Omnex’s Secure, Safe, and Sustain (Omnex S3) business unit, and that Futurepast’s John Shideler will assume the role of Managing Director of Sustainability Services.

According to Kymal “Omnex’s S3 and Futurepast would like to support a Net Zero World helping our customers and the world transition into a future that balances the needs of the present with those of the future. S3 and Futurepast will provide training and verification services to support Omnex’s customers’ as well as the world’s aspiration to Net Zero Carbon. In addition, Omnex S3 supports the transition to eMobility by providing product certification for Automotive Functional Safety and Cybersecurity.  Hence the collective vision and mission of Safety, Security, and Sustainability.  According to Kymal, “we are indeed fortunate to have one of the world’s experts in greenhouse gases (GHG) and Net Zero join Omnex.”

Shideler stated that, saying, “Folding the mission of Futurepast into the Omnex group will add scale to our business operations and increase the level of services available to clients. It is a win-win for our customers and for the two companies.”

In August, Futurepast achieved accreditation from the ANSI National Accreditation Board as a validation and verification body, and it serves clients across North America and globally.

Omnex has 12 offices worldwide and provides services across 40 countries globally. We are thrilled to partner with Futurepast as we aim to make a real difference in reducing companies’ carbon footprints.

View original content to download multimedia:https://www.prnewswire.com/news-releases/omnex-acquires-futurepast-302282213.html

SOURCE Omnex

Continue Reading

Technology

Yale Levy Joins SoloSuit to Lead Growth of SoloSettle

Published

on

By

SAN FRANCISCO, Oct. 21, 2024 /PRNewswire/ — SoloSuit, a legal tech startup helping consumers resolve debt collection lawsuits, has named Attorney Yale R. Levy as Director of Client Development. Levy, founder of Levy & Associates, LLC, a multi-state collection law firm, and former President of the National Creditors Bar Association (NCBA), brings decades of debt collection expertise to the company. He will focus on building partnerships with creditors, law firms, and collection agencies to promote SoloSuit’s latest tool, SoloSettle.

“I’m excited to help expand SoloSettle,” said Levy. “This innovative platform allows consumers to settle debts electronically while saving creditors significant legal costs by speeding up the process.”

SoloSettle is the first of its kind—a digital settlement marketplace designed to ease and automate the negotiation process between consumers and debt collectors. By leveraging AI and electronic communication, SoloSettle eliminates the need for direct phone conversations and court involvement, creating a frictionless and efficient way to settle debts online. Once an agreement is reached between the parties, the platform facilitates the entire process, from negotiating terms, to executing settlement documentation, to handling secure payments. SoloSettle saves time and money for both consumers and collectors, reducing the average settlement time from six months to just under 14 days.

“This is a win-win,” said George Simons, Founder and CEO of SoloSuit. “SoloSettle helps consumers settle debts affordably, while helping collectors recover debts faster and with less hassle. We’re thrilled to have Yale lead our expansion efforts.”

Under Levy’s leadership, SoloSettle has gained traction, with numerous law firms, collection agencies, and debt buyers already using the platform to resolve debts. Levy’s expertise provides a collector’s perspective, positioning SoloSuit as a trusted mediator between consumers and collectors.

“SoloSettle is not a debt settlement company,” Levy clarified. “It’s a neutral platform that streamlines the settlement process for both parties.”

Simons added, “Yale’s leadership in the collections industry is invaluable as we strengthen relationships with creditors, debt collectors, and law firms. With his help, we’ll continue to grow this innovative platform.”

About SoloSuit
SoloSuit helps consumers resolve debt collection lawsuits through web-based software. Its platform, SoloSettle, enables consumers and debt collectors to negotiate settlements online, reducing time, cost, and stress in debt resolution.

View original content to download multimedia:https://www.prnewswire.com/news-releases/yale-levy-joins-solosuit-to-lead-growth-of-solosettle-302282215.html

SOURCE SoloSuit, Inc.

Continue Reading

Technology

Sen. Amy Klobuchar tours American Peat Technology sites for Manufacturing Month

Published

on

By

Growing Aitkin-based APT creates all-natural products for agricultural, other applications

MINNEAPOLIS, Oct. 21, 2024 /PRNewswire/ — Minnesota’s senior U.S. Senator Amy Klobuchar made a visit to the facilities of American Peat Technology (APT) in Aitkin, Minnesota, on Thursday, October 17th.

Sen. Klobuchar’s visit was part of her tour of Minnesota industrial worksites in honor of Manufacturing Month.

“We were proud to show Sen. Klobuchar how emerging applications for peat-based agricultural products are putting Minnesotans to work,” said APT’s CEO Brad Pieper. “Thanks to the excellence of our all-natural products, and the growing demand for them, APT is increasingly prominent as a solver of problems in agronomy, water treatment, consumer goods, and many other areas.”

Incorporated in 2003, APT uses peat – plant matter that naturally breaks down over time in Minnesota bogs and wetlands – to manufacture natural, value-added products serving needs in areas of agronomy, water remediation, consumer product development, whiskey distilling, battery mineral processing, and more. With vast research and development (R&D) and manufacturing capabilities, APT partners with start-ups and established companies to develop and scale product solutions.

“Whether it’s converting nitrogen into useful gases for crops, or filtering heavy metals out of water impacted by mining, APT’s peat processing not only helps Minnesota’s farmers, it’s also turning Central Minnesota’s peatland into real jobs that raise our local communities up,” said Pieper.

With 40 year-round employees, a 100,000 square foot production facility, and 480 acres under permit to mine, APT is Minnesota’s largest peat harvester. It’s one of several Minnesota businesses Sen. Klobuchar visited for Manufacturing Month, during which businesses open their doors to showcase their contributions to life in the state, and to recruit new talent.

“I stopped by American Peat Technology to see how their business helps local agriculture and creates manufacturing jobs in rural Minnesota,” said Sen. Klobuchar. “Our state has long been a premier destination for innovative companies like APT, and I’ll continue working to strengthen our economic leadership.”

“We’re thrilled Sen. Klobuchar chose to come to APT,” Pieper said. “It’s the perfect opportunity to highlight our company and the great things we’re doing for the people of Central Minnesota and the world.” 

Learn more about APT at https://americanpeattech.com/.

About American Peat Technology

American Peat Technology (APT) manufactures natural, high-value all-natural products using peat harvested from Minnesota’s bogs and wetlands. As the state’s largest peat harvester, APT supports industries ranging from agronomy and water remediation to whiskey distilling and battery mineral production. Based in Aitkin, Minnesota, and offering R&D and manufacturing expertise, APT partners with start-ups and established companies alike to develop innovative, scalable solutions. Known for its nimble and science-driven approach, APT is a trusted partner that delivers custom solutions tailored to its clients’ most complex challenges.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sen-amy-klobuchar-tours-american-peat-technology-sites-for-manufacturing-month-302282221.html

SOURCE American Peat Technology (APT)

Continue Reading

Trending